Will Ferrell was shocked to find out that the sequel was a no-go and blames Paramount for nixing it.

He says:

"Anchorman 2, you'd have to really assert some kind of email hate campaign to Paramount picture because they've told us, quote unquote, 'We've run the numbers and it's not a good fit.'

We were going to do almost a reverse… almost like how the Marx brothers used to do - we were going to do a Broadway musical and then have a film come out after the stage show. Everyone we tell the idea loves it, except for the studio that owns the rights. Ball's in their courts, but they're being idiots."

Ouch! Those are some fightin' words!

And he didn't even end there! Will also talked about how surprised he was when he got the news:

"Well, you know, yeah, it's a little peculiar. On the one hand, [we were] being begged to do a sequel for such a long time, and then we finally came up with a concept that we liked, we talked to all the guys, and everyone was up for it. And then to get the reaction we got, yeah, it's slightly puzzling to us. But you know what? It's also their money. They get to do or not do whatever they want. So we'll see. We're still going back and forth. Maybe there is a solution. Or, I know in talking to [producer] Adam [McKay], if it never happens, then it never happens. And that's fine, too. So we'll just see."

Big time sadsies! We were really looking forward to an Anchorman sequel and we know we weren't the only ones!